subject: Facebook and Joint Ventures - The New Way to Do Business [print this page] Facebook and Joint Ventures - The New Way to Do Business
There's a whole new "parallel dimension" out there and it's called Facebook. This social networking site has previously been dominated by teenagers but not now. As I discovered when I interviewed Mary Pat Kavanagh, she has used Facebook as the perfect venue to find Joint Venture partners.
First, let's define a Joint Venture:
A joint venture is 2 people (or more) getting together to create a new entity, a new venture. It's a 2 way street in that each person contributes in the form of money, product, knowledge, contacts, hard work etc. Whichever of these they have to contribute.
It is different to an affiliate arrangement which is pretty one sided. You are not really working closely together and contributing to the finished product.
How to use Facebook to find and develop JVs
1. First of all, go to Facebook and sign up
2. Gradually fill out information in your profile about yourself (books, music, hobbies etc). The whole idea is that people want to form relationships (JVs) with people they can relate to, so let them know a bit about yourself.
3. Important. In your profile make a space to say "I want to meet people who... and my target customers (or I can help people who)........ Be clear and specific
4. When you invite someone to be your friend, include a personal note about WHY (eg, I really admire your work)
5. DON'T go straight away and ask for help or say you are looking for a JV
6. DO take the time to write comments to their profile, contribute to any discussion they may start and introduce them to people you think may help them (you can do this automatically through Facebook)
7. It's like any relationship, you say hello and introduce yourself before you ask to go on a date!
8. Do join groups in Facebook on your topic. There are thousands of them, you don't have to be invited to join and it is an excellent way to find contacts in your niche.
9. Join niche groups: As well as a great way to find contacts (i.e. JV partners) it is also a powerful way to do your market research. If people are discussing problems they have, if you can find a solution to that problem, you have a business.
So go on, why not join me on Facebook and we can discover this parallel universe together?
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